According to Jawahar Ali, an investment firm that is licensed by a foreign jurisdiction is not allowed to solicit funds from Malaysians, unless it is granted a licence by the SC. — Borneo Post Online pic
Monday, 19 Sep 2022 9:02 AM MYT
KUCHING, Sept 19 — There was a jump of 25 per cent in the number of complaints and enquiries related to investment scams registered in the country had throughout the period of Covid-19 pandemic.
The cases received were mainly about those promoted via social media, said Securities Commission of Malaysia (SC) general manager Jawahar Ali Ameer Ali.
“My observation is that during the Covid-19 pandemic, a lot of people felt bored at home during the lockdowns or were struggling financially, so they started looking for investment opportunities as they needed more money.
“This created a fertile ground for the scammers.”
He said last year, there were 1,857 complaints and inquiries related to investment scams, versus the 1,482 complaints and enquiries received in 2020.
In this regard, Jawahar Ali said the SC had been conducting a series of nationwide educational talks to inform the people from the urban and rural areas about the recommended anti-scams measures that they could undertake.
He was met by the press at the two-day ‘Bersama [email protected] 2022’ programme in Vivacity Megamall here yesterday.
Talking further about the scam-prevention measures, Jawahar Ali highlighted ‘the golden rule’ — never deposit money into an…
